Under this policy, the government will facilitate the direct supply of premium Ghana cocoa beans to COVAAAGH members and other indigenous Ghanaian small-scale cocoa processing and manufacturing enterprises, empowering them to produce high-quality cocoa-based products for the domestic and export markets.
In a statement, COVAAAGH said the policy is a remarkable step that will bolster the domestic cocoa value chain, promote economic growth and job creation, and increase Ghana’s share of the global cocoa and chocolate industry, which is valued at $130 billion.
COVAAAGH believes the Cocoa Marketing Company’s current 50-metric tonne minimum threshold for the purchase of cocoa beans is prohibitive to Ghana’s burgeoning artisanal cocoa value-addition industry. In light of the current lack of direct access to cocoa beans, local small-scale manufacturing enterprises are forced to source semi-finished raw material from the Freezones cocoa processing companies at exorbitant prices, which include import duty, levies, and taxes amounting to over 59%.
COVAAAGH urged the government to expedite the implementation of this strategic move to harness its many potential impacts on the Ghanaian economy.
COVAAAGH said it is excited about the prospects of this policy and looks forward to working closely with the government to ensure its successful implementation. The association appreciates the government’s dedication to the development of the cocoa sector and its recognition of the crucial role played by local value-addition artisans.
COVAAAGH assured the government and the Ghana Cocoa Board (COCOBOD), the sector regulator, of its readiness and commitment to work together with them for the smooth implementation of this transformative policy in order to achieve its intended purpose for the full benefit of the good people of Ghana and the growth of the local cocoa value addition sector.